[Federal Register Volume 64, Number 134 (Wednesday, July 14, 1999)]
[Notices]
[Pages 37982-37983]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-17877]


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FEDERAL RESERVE SYSTEM


Notice of Proposals to Engage in Permissible Nonbanking 
Activities or to Acquire Companies that are Engaged in Permissible 
Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation Y, (12 CFR Part 225) to engage de novo, or to acquire or 
control voting securities or assets of a company, including the 
companies listed below, that engages either directly or through a 
subsidiary or other company, in a nonbanking activity that is listed in 
Sec.  225.28 of Regulation Y (12 CFR 225.28) or that the Board has 
determined by Order to be closely related to banking and permissible 
for bank holding companies. Unless otherwise noted, these activities 
will be conducted throughout the United States.
    Each notice is available for inspection at the Federal Reserve Bank 
indicated. The notice also will be available for inspection at the 
offices of the Board of Governors. Interested persons may express their 
views in writing on the question whether the proposal complies with the 
standards of section 4 of the BHC Act.
    Unless otherwise noted, comments regarding the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than July 28, 1999.
    A. Federal Reserve Bank of Cleveland (Paul Kaboth, Banking 
Supervisor) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. Charter One Financial, Inc., Cleveland, Ohio; to acquire St. 
Paul Bancorp, Inc., Chicago, Illinois, and its subsidiaries including, 
St. Paul Federal Bank for Savings, Chicago, Illinois, and thereby 
engage in operating a savings association, pursuant to Sec.  
225.28(b)(4)(ii) of Regulation Y; St. Paul Trust Company, Oak Lawn, 
Illinois, and thereby engage in trust company functions, pursuant to 
Sec.  225.28(b)(5) of Regulation Y; St. Paul Securities, Inc., Chicago, 
Illinois, Investment Network, Inc., Franklin Park, Illinois, and 
Investment Network Advisors, Inc., Franklin Park, Illinois, and thereby 
engage in financial and investment advisory activities, pursuant to 
Sec.  225.28(b)(6) of Regulation Y, and securities brokerage, private 
placement, riskless principal, futures commission merchant and other 
agency transactional services for customers, pursuant to Sec.  
225.28(b)(7) of Regulation Y; Community Finance Corporation, Chicago, 
Illinois, and thereby engage in community development activities, 
pursuant to Sec.  225.28(b)(12)(i) of Regulation Y; EFS/San Diego 
Service Corporation, Chicago, Illinois, and thereby engage in leasing 
personal or real property, pursuant to Sec.  225.28(b)(3) of Regulation 
Y; Serve Corp Mortgage Corporation, Naperville, Illinois, and thereby 
engage in extending credit and servicing loans, pursuant to Sec.  
225.28(b)(1) of Regulation Y; and ATM Connection, Inc., Chicago, 
Illinois, and

[[Page 37983]]

thereby engage in data processing and data transmission activities, 
pursuant to Sec.  225.28(b)(14) of Regulation Y.
    B. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. AmSouth Bancorporation, Birmingham, Alabama; to acquire First 
American Community Development Corporation, Nashville, Tennessee, and 
thereby engage in community development activities, pursuant to Sec.  
225.28(b)(12) of Regulation Y.

    Board of Governors of the Federal Reserve System, July 8, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-17877 Filed 7-13-99; 8:45 am]
BILLING CODE 6210-01-F